Baker Tilly Canada
Close
Insights
Service
Industry
City
Category
Tax advisory
Holding Companies Demystified
As tax professionals, we are often asked by clients to explain the concept and appropriate uses of holding companies. The answer generally is not straightforward; a variety of tax and commercial factors are relevant in any particular case. Though it is beyond the scope of this article to provide a complete list of potential benefits and drawbacks, an introduction to several key issues will be examined.
May 28, 2014
Default image for insights
The “Evils” of Alternative Minimum Tax
Selling your farm is supposed to be tax free, right? At least the first $800,000. So why is that not always the case, and what can you do about it?
William Bishop May 20, 2014
Default image for insights
Advice to Associates About Law Firm Efficiency
I recently delivered a webinar to a group of associates at one of my law firm clients, as part of the firm’s internal CPD and training program. Among the advice I gave the associates was a recommendation to start looking for opportunities to streamline their work, increase their efficiency, and reduce their own “cost of doing business,” in order to make themselves and their practice groups more competitive and effective.
Apr 22, 2014
Default image for insights
Get our newsletter
Stay informed on what matters most to your success.
Seven Keys to Retaining Your Clients
This article could equally well be called "How to prevent your competitors from stealing your clients." It's not that these other lawyers lack ethics, values and courtesy. It's just that as practices diminish, revenues have to be obtained somewhere to support the firm and its employees. The bottom line is that others may have your clients in their crosshairs. So what are you supposed to do about this? Here are seven suggestions:
Apr 22, 2014
Default image for insights
Income tax and HST implications of ceasing farm operations
Although changes in income tax legislation make tax planning for taxpayers increasingly challenging, tax legislation specific to farmers remains relatively unchanged and can be quite favourable. There are many cases where farmland has been transferred through generations and has not been farmed for many years.
Mar 21, 2014
Default image for insights
Indirect tax Tax advisory
Oh! Taxman, what big teeth you have!
Today, no one seems to doubt the existence of tax havens. But tax hell... does it exist? Based on the testimony of taxpayers and tax practitioners, one might wonder. Reports of abuse and misconduct by the tax authorities seem increasingly common.
Mar 5, 2014
Default image for insights
International Tax advisory
RESP and TFSA Accounts for U.S. Citizens
Recently, Canada and the U.S. reached an agreement providing that Canada will assist with the collection and reporting of information to the U.S. Internal Revenue Service (IRS) on U.S. persons living here in Canada in order to comply with the U.S. Foreign Account Tax Compliance Act (FATCA). See our February U.S. Tax Flash for details on the agreement.
Feb 25, 2014
Default image for insights
Tax advisory
U.S. Citizens in Canada: Are you sure you don’t owe U.S. income tax?
The U.S. income tax filing requirements of U.S. citizens living in Canada has seen more than its fair share of press coverage in recent times. That said, despite the onerous personal income tax filing obligations and related foreign bank and financial account disclosure requirements imposed on U.S. citizens living outside of the U.S., few of these taxpayers end up owing U.S. income tax.
Mike Hayward Feb 25, 2014
Default image for insights
Tax advisory
Considerations on incorporating your business or professional practice
If you have an unincorporated business or professional practice, consider incorporating to take advantage of various tax planning opportunities not otherwise afforded to unincorporated businesses.
Feb 4, 2014
Default image for insights
Indirect tax Tax advisory
Providing services to a non-resident? Prove it!
This article is to shed light on the age-old question – are the services I am providing to a non-resident exempt from tax or not? As is true of most questions relating to sales tax implications, there is no clear-cut answer. To answer this question, you need to contemplate several other questions first.
Feb 3, 2014
Default image for insights
International Tax advisory
Snowbirds and the Closer Connection Exception
Fall is the time of year when Canadian snowbirds pack up and head south for the warmer winter in the U.S. Some limit their stay to a maximum of 182 days, under the mistaken belief that this will avoid being considered a resident of the U.S. for income tax purposes (and conveniently brings them home just in time for spring). Many do not realize that the U.S. residency rules for income tax purposes involve a much shorter time period.
Shelley Smith Dec 5, 2013
Default image for insights
Solutions within reach
Wherever you need us.
Connect now